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$ TIP OF THE DAY: It’s Monday, allowance day! Put any left over allowance money from last week away in a safe place (until the end of the month).Take out the cash you need for this week and make it work. I had $2 left over & my allowance is $60 a week. What’s yours?

At the end of the month I use all of my left over allowance money towards debt, fun or savings. Sometimes I have $10, sometimes $100!

Have you started taking out your weekly allowance?

How to Calculate Your Weekly Allowance:

1) Add up all your MONTHLY spending, ex. bills, groceries, medication, travel expenses, kid expenses, savings, investments (your Money List)

2) What you spend MONTHLY should equal what you take home ($) each MONTH. If it doesn’t, reduce spending pronto! (ex. cut cable, use coupons, discontinue mag. subscriptions)

3) Decide what items on your Money List are cash items (ex. groceries, gas, babysitter, toll, entertainment, eating out). Add them up. That’s your monthly allowance.

4) Divide your monthly allowance by 4 (weeks) to calculate your weekly allowance.

5) Take your weekly allowance every Monday in cash and make it work. You can do it!!!